SEI Investments (NASDAQ:SEIC) Stock Rating Upgraded by Wall Street Zen

Wall Street Zen upgraded shares of SEI Investments (NASDAQ:SEIC) from a hold rating to a buy rating in a research report report published on Tuesday.

SEIC has been the topic of several other research reports. Keefe, Bruyette & Woods boosted their price target on shares of SEI Investments from $80.00 to $84.00 and gave the stock a “market perform” rating in a research report on Friday, April 25th. Morgan Stanley restated an “overweight” rating and set a $82.00 price objective (up previously from $77.00) on shares of SEI Investments in a report on Thursday, April 24th. Piper Sandler upped their target price on shares of SEI Investments from $74.00 to $79.00 and gave the stock a “neutral” rating in a research note on Thursday, April 24th. Raymond James upgraded SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price objective for the company in a report on Thursday, January 30th. Finally, William Blair restated a “market perform” rating on shares of SEI Investments in a report on Thursday, April 24th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, SEI Investments currently has an average rating of “Moderate Buy” and a consensus price target of $87.60.

SEI Investments Price Performance

SEIC opened at $84.47 on Tuesday. The company has a 50 day simple moving average of $76.94 and a two-hundred day simple moving average of $80.05. The firm has a market cap of $10.52 billion, a P/E ratio of 19.11, a PEG ratio of 1.41 and a beta of 0.90. SEI Investments has a 1-year low of $62.38 and a 1-year high of $87.25.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.05. The business had revenue of $551.34 million during the quarter, compared to the consensus estimate of $556.76 million. SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.99 EPS. Equities analysts anticipate that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments announced that its Board of Directors has authorized a stock repurchase program on Tuesday, March 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the asset manager to reacquire up to 5.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Insider Transactions at SEI Investments

In other SEI Investments news, EVP Michael Peterson sold 50,000 shares of SEI Investments stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $84.27, for a total transaction of $4,213,500.00. Following the completion of the transaction, the executive vice president now owns 13,500 shares in the company, valued at approximately $1,137,645. This trade represents a 78.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Alfred P. West, Jr. sold 72,842 shares of SEI Investments stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $79.45, for a total value of $5,787,296.90. Following the transaction, the chairman now owns 7,160,080 shares of the company’s stock, valued at approximately $568,868,356. This represents a 1.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 170,214 shares of company stock worth $13,925,963. Insiders own 14.60% of the company’s stock.

Institutional Trading of SEI Investments

A number of hedge funds have recently added to or reduced their stakes in SEIC. First Horizon Advisors Inc. raised its position in shares of SEI Investments by 25.4% in the fourth quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager’s stock worth $48,000 after acquiring an additional 117 shares during the period. Cadence Bank increased its stake in shares of SEI Investments by 1.2% in the 1st quarter. Cadence Bank now owns 10,551 shares of the asset manager’s stock valued at $819,000 after purchasing an additional 121 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in SEI Investments by 7.3% in the 4th quarter. Venturi Wealth Management LLC now owns 2,105 shares of the asset manager’s stock worth $174,000 after purchasing an additional 144 shares during the period. Ashton Thomas Securities LLC boosted its position in SEI Investments by 2.5% during the fourth quarter. Ashton Thomas Securities LLC now owns 5,969 shares of the asset manager’s stock worth $492,000 after purchasing an additional 145 shares in the last quarter. Finally, Principal Securities Inc. boosted its position in SEI Investments by 13.3% during the fourth quarter. Principal Securities Inc. now owns 1,324 shares of the asset manager’s stock worth $109,000 after purchasing an additional 155 shares in the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

About SEI Investments

SEI Investments Company is a publicly owned asset management holding company. Through its subsidiaries, the firm provides wealth management, retirement and investment solutions, asset management, asset administration, investment processing outsourcing solutions, financial services, and investment advisory services to its clients.